The traditional summer break could be history under one of a dozen proposals the state Board of Regents is considering to boost public-school graduation rates.

The measure, among the solutions to the nation’s educational crisis touted by President Obama, would lengthen the school year by 20 days — effectively cutting summer vacation in half — and extend the school day to eight hours.

While added instructional time has been shown to improve student achievement, it also comes with a hefty price tag at a time when budgets are being slashed across the board.

“We wholeheartedly support the initiative, but it’s going to be a challenge in this fiscal environment,” said David Albert, spokesman for the New York State School Boards Association.

The Regents are scheduled to discuss today — and vote on next month — a number of potential policy changes that are meant to better prepare high school graduates.

The push comes after new analyses showed less than half the state’s students — and less than one in four New York City kids — are leaving high school with the skills needed to succeed in college or at work.

But several parents contacted by The Post said they weren’t ready to have their kids give up the treasured two-month summer break.

“Extending the school year, I’m not in favor of — they need a break,” said Marvin Shelton, president of District 10 Community Education Council in The Bronx. “The school year runs long enough.”

Also under review for potential elimination is a “seat time” policy for high-school students, mandating that students spend at least 54 hours in each class per semester before they can be awarded course credits.

The policy has been criticized by proponents of online education and by educators who claim that it stifles accelerated learners.

“It’s ridiculous to say to a student that if you can master this course in 20 hours, you still have to sit in it for 54 hours to get a credit,” said Alisa Berger, principal of NYC iSchool, where online and classroom instruction are combined.